Selling to buy

pinkxray

DIS Veteran
Joined
Sep 4, 2009
I am kind of thinking about selling my contract to buy a different resort. I would probably buy the resort I want first to make sure it all goes through. Once it goes through I would sell my other contract to pay for it so I might have to finance the contract I am buying until the other one sold.

Anyone have any tips or experience with this?
 
  • nuhusky123

    Mouseketeer
    Joined
    Oct 1, 2021
    Would you qualify for a heloc? rates would be more favorable than financing via anything dvc or resale related

    edit meant to say would you qualify
     
    Last edited:

    HappyDisneyWife

    Powered by pixie dust... and espresso ;)
    Joined
    Jan 5, 2020
    Done it several times over the year, I used Lightstream once for a short term loan while I waited to get funds from the sale.

    It was easy and worked great.
    I’ve been wondering a similar thing… roughly how long does it take to get the funds from a sale?

    I’m wanting to flip 1 contract for tge same resort in a diff UY 🤦🏻‍♀️ (I made the mistake of thinking that since I love 2 UY, I’d be happy with 3… and I’d definitely rather just have 2).
     

    Sandisw

    DVC Forums
    Moderator
    Joined
    Nov 15, 2008
    I’ve been wondering a similar thing… roughly how long does it take to get the funds from a sale?

    I’m wanting to flip 1 contract for tge same resort in a diff UY 🤦🏻‍♀️ (I made the mistake of thinking that since I love 2 UY, I’d be happy with 3… and I’d definitely rather just have 2).
    Last summer, it was about 2 weeks, In the past, I had gotten it the day after closing,

    Some title companies now wait to make sure it’s correct when transferred to the new owner before releasing funds.
     

    princesscinderella

    DIS Veteran
    Joined
    May 27, 2011
    I think it depends on when you bought your original points, if they are direct or grandfathered blue card points, I wouldn’t seek to buy a new resort I’d just try to change resorts at the 7 month window. If your current points are already restricted then buy and sell away.
     

    JLong06

    Earning My Ears
    Joined
    Jun 2, 2018
    I am kind of thinking about selling my contract to buy a different resort. I would probably buy the resort I want first to make sure it all goes through. Once it goes through I would sell my other contract to pay for it so I might have to finance the contract I am buying until the other one sold.

    Anyone have any tips or experience with this?
    Doing this now. Sold 50 AK points and I'm using that to put a down payment on a Poly contract. I have funds available if I don't get my AK money before I need to close on Poly. My agent told me to expect my AK money around 2 weeks after closing. If you absolutely need the money from the sale, it sounds like you should wait 3-4 weeks (if not more) before you move on to purchasing. If it were me in that situation, I'd wait until I had the funds.

    Lightstream is a quick and easy option though if you're comfortable financing.
     

    BWV Dreamin

    DIS Veteran
    Joined
    Mar 10, 2007
    I have sold a few contracts to purchase new. The criteria for me was that the contracts I sold were over my original purchase price. And the new contracts I bought were longer years and direct.
     

    MICKIMINI

    Love the Mouse!
    Joined
    Sep 6, 2003
    I'm working on taxes now. Both contracts sold in 2021 were profitable and proceeds used to purchase a direct last year. I'm always a bit worried until I get final payment on a sale, but usually purchase in the interim with other funds. I have used 0% credit card which is handy.

    It can be a bit messy, but this is a marathon not a sprint.
     

    MBTigger

    Designated Bouncer
    Joined
    Aug 19, 2019
    I have been debating about this. I bought SSR during the mid 2020 price drop because there was a lack of other contracts I was interested in (AKV in particular) I found an SSR contract with the right UY, right points, and right price. I was not certain if I would plan over 7 months in advance, so I bought it. But now I find I AM planning over 7 months in advance - even if only to be ready to grab units at the 7 month mark as soon as possible.

    My only comfort is that our family has dietary restrictions that make a full kitchen almost essential. 1 BR units are the easiest to get - except for the fact that our current trip and the trip after we are inviting people and are looking at 2 bedroom units. It makes we want 50-100 more points at a location where the 11 month advantage is better....

    Addonitis "This is the way"......
     

    Jwaire

    Mouseketeer
    Joined
    Sep 17, 2020
    I am kind of thinking about selling my contract to buy a different resort. I would probably buy the resort I want first to make sure it all goes through. Once it goes through I would sell my other contract to pay for it so I might have to finance the contract I am buying until the other one sold.

    Anyone have any tips or experience with this?
    I'm assuming you are going resale? Since it's a temporary financial situation, I would use Monera. There's no credit check and they won't penalize you for paying off your contract early. I did this during the beginning of COVID when everyone thought the sky was falling and selling their contracts. Paid it off within the first year. You could also do a home equity line or credit card flex loan, but those will be reported on your credit.

    If you're going direct, the Chase Disney Visa gives you 6 months no interest financing. That's plenty of time for your contract to close.

    I’m wanting to flip 1 contract for tge same resort in a diff UY 🤦🏻‍♀️ (I made the mistake of thinking that since I love 2 UY, I’d be happy with 3… and I’d definitely rather just have 2).
    It's so tempting to get wrapped up in number of points/pricing and ignore use year. Every time I see a small contract pop up, I want to jump on it! And this forum is full of enablers. 🤣 But this is one mistake I'm not going to make. I have a hard enough time managing 1 use year. I don't see how anyone juggles 2, 3 or 4.

    I keep buying small 50 point contracts at all my favorites resorts. That's starting to become a problem too especially for my family that doesn't like split stays. We all have our DVC (first world) problems. 😆
     

    MICKIMINI

    Love the Mouse!
    Joined
    Sep 6, 2003
    It gets sticky when you plan several trips a year. I have sold with delayed closing with no issues, but I'd rather sell without. You need multiple contracts to be able to reserve 7-11 months out for your own trips and still flip contracts.

    I'm currently selling a small contract that has no entanglements and have one or two more I can sell. I stripped the points, so really don't have any use of these contracts until late 2023. I'm better to sell at a profit and buy a fully loaded contract to replace both and then have one year of points to rent (2020) and one year to bank (2021) thus giving me double points for 2022.

    The smart thing is to buy more SSR or OKWE, however I want AKV so I really should buy both LOL!
     

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